The U.S. economy expanded in the third quarter at the fastest pace in two years, bolstered by resilient consumer and business spending and calmer trade policies.
Inflation-adjusted gross domestic product, which measures the value of goods and services produced in the U.S., increased at a 4.3% annualized pace, a Bureau of Economic Analysis (BEA) report showed Tuesday. That was higher than all but one forecast in a Bloomberg survey and followed 3.8% growth in the prior period.
The BEA was originally due to publish an advance estimate of GDP on Oct. 30, but the report was canceled due to the government shutdown. The agency typically releases three estimates of quarterly growth ¡ª fine-tuning its projections as more data comes in ¡ª but it will only release two for the period leading up to the longest shutdown on record.
With your current subscription plan you can comment on stories. However, before writing your first comment, please create a display name in the Profile section of your subscriber account page.